Should I retire now at 30 years old?

Should I retire now at 30 years old? - Redpanda

Should I retire now at 30 years old?

I’m single M30, living in an almost paid up 2BR condo (monthly mortgage $500 from CPF), savings ~1M and earning ~200-250K p.a. Expenses ~3K per mth Thinking of quitting and FIRE now since my savings/investments can cover my lifestyle. I will travel, exercise, do some hobbies and maybe start a YouTube/insta page to talk about investing/my life as a retiree…? Not sure if I’m crazy to retire so early and get out of the rat race. Anyone can relate or have suggestions? Will I be too bored and waste my life away lol Just wanna say I’m of course grateful to be in a financially comfortable position. I am working crazy hard and even in office right now waiting for partners’ emails to come in. Here to crowdsource thoughts only

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Why not? People get by with way less than you, and still get to travel and chase their hobbies. Just be careful if you decide to get married. The missus might want kids, bigger house, or more.

If married gg. Don’t think someone will fancy an early retiree without job and just doing hobbies everyday lol

$1m these days won’t go a long way. If you decide to have even 1 kid you’ll realize how fast your bank account will drain. I agree with the earlier commenter to work till 40 at least … and save up more for contingencies/ emergencies etc too. A5% yield on your savings won’t help much honestly

If I quit now I will defo not have kids. Just find a gf and chill. But I realise dating also need money LOL that’s out of my budget

Only you can decide the trade off! For me I tell myself every month I work is $x savings in the bank and that can last me 3 months in retirement. For me (30+), my plan is to save a bit more and then do slow travelling. 90 days in Korea, 90 days in Japan, 30 days in China and spend rest of my time in SG (during cooler months) for a few years, see how I enjoy it. Aiming to have 30x my annual spend. After being bored of travelling, come back to Singapore and do a part time / volunteer. I’ve always wanted to be Christmas wrapper at Taka during festive period 😅 I also enjoy working out so gonna tick stuff off my exercise bucket list.

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Should I retire now at 30 years old?